Flex Building with Roll-Up
For Sale
Contact for pricing
9173 Sky Park Court, San Diego, CA 92123
Climate-controlled space includes three-phase electrical service and glass-enclosed roll-up door positions.
Property Size26,036 SF
Lot Size1.84 Acres
Price / SF$375
Days on Market9
Property Features for 9173 Sky Park Court
General Information
Standard status
Active
Size
26,036 SF
Lot size
1.84 Acres
Property subtype
Office, Industrial
Warehouse & Industrial
Clear Height
14.5 ft
Power
1,600 amps
Voltage
208 V
Three-Phase Power
Yes
Sprinkler System
Yes
Amenities
climate controlled
glassed-in roll-up doors
Building Details
Buildings
1
Building Size
26,036 SF
Owner Occupied
No
Listing Agency:
Lee & Associates - San Diego
Listed By:
Spencer Dok · License #02106855
(858) 805-5547
Source:
Crexi
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 24 at 1:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - San Diego
Investment Insights
Based on property information with market context.
This approximately 26,036-square-foot flex building is fully climate controlled and sprinklered. Three roll-up door positions have glass enclosures, and clear height ranges from approximately 13 to 14.5 feet. Electrical service is approximately 1,600 amps at 208V/120, three-phase, four-wire.
The property at 9173 Sky Park Court in San Diego occupies Parcel 1, approximately 1.835 acres. The parcel was legally subdivided and can be owned and conveyed separately from the adjacent property at 9177 Sky Park Court.
The property at 9173 Sky Park Court in San Diego occupies Parcel 1, approximately 1.835 acres. The parcel was legally subdivided and can be owned and conveyed separately from the adjacent property at 9177 Sky Park Court.
Key Highlights
- Approximately 26,036 SF building on approximately 1.835 acres
- Three glass‑enclosed roll‑up door positions
- Approximately 13'-14.5' clear height
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$502,625
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,052,500
$10.1M
Cap Rate 7%
$7,180,357
$7.2M
Cap Rate 9%
$5,584,722
$5.6M
Market Conditions
NOI Build-Up for 26,036 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$781.1K $30.00/SF
− Vacancy
−$110.9K −$4.26/SF
EGI
$670.2K $25.74/SF
− OpEx
−$167.5K −$6.44/SF
NOI
$502.6K $19.31/SF
Area
San Diego, CA
Vacancy
14.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,052,500
Cap Rate 7%
$7,180,357
Cap Rate 9%
$5,584,722
Alternative Uses
Best Use
Office B
$7.18M
$6.28M – $8.38M
NOI $502,625 @ 7.0% cap · market cap 5.15%
Second Best
Flex RnD
$5.40M
$4.72M – $6.30M
NOI $377,730 @ 7.0% cap · market cap 3.87%
Theoretical Best
Specialty Retail
$10.28M
$9.00M – $12.00M
NOI $719,843 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14 ft
Clear height
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,809
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92123, CA
30,937
Population
13,108
Households
2.4
Avg Household Size
34
Median Age
48%
College-Educated
93%
High-School Grad
8.6 sq mi
ZIP Area
3,597
Density / Sq Mi
$121,856
Median Household Income
$55,111
Median Earnings
$2,798
Median Rent
$799,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in San Diego, CA
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Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled space includes three-phase electrical service and glass-enclosed roll-up door positions.
Where is this flex space located?
The property is located at 9173 Sky Park Court San Diego, CA.
What is the asking price?
The asking price for this property is $9,763,500.
What are key features of this property?
This property features: Approximately 26,036 SF building on approximately 1.835 acres; Three glass‑enclosed roll‑up door positions; Approximately 13'-14.5' clear height
